Algiers, LA Real Estate Absorption Rates as of 6/18/2008
Excluding English Turn and the Lower Coast of Algiers
- Homes priced between $100,000 and $160,000 are continuing to sell and that segment of the market is very well balanced, with right around a 5 month supply of homes for sale
- Interestingly, there is a large supply of homes for sale in the $60,000 to $100,000 range that are not selling quickly. This can mostly be attributed to the poor condition of these properties.
- Homes priced over $160,000 are continuing to take longer to sell across the entire West Bank of New Orleans, not just in Algiers.
The inventory of homes for sale is spread across multiple subdivisions:
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Walnut Bend ~ 12 homes available
-
Bocage ~ 19 homes available
-
Tall Timbers ~ 21 homes available
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Park Timbers/Lennox Blvd. ~ 19 homes available
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New Aurora ~ 20 homes available
Remember, an absorption report is a snapshot of the market at the current time, and the statistical odds of selling in 90 days will vary depending on the number of homes for sale and recent closed sales. This is not a guarantee that your home will sell within this timeframe, only a tool to use to gauge buyer interest in the various price ranges in the area.
Beyond price, the condition of a home continues to be the determining factor for most buyers. Homes that offer the greatest value in their price range will almost always sell before those that require renovations or updates. More information for West Bank home sellers
If you need an experienced Algiers REALTOR® to help you determine the best price and marketing plan for your Algiers home, please contact Lisa Heindel. I’d be happy to help you understand the ins and outs of our current West Bank real estate market.
Here’s the disclaimer part: The opinions expressed here are strictly those of the author, but you are free to share yours in the comments. All information is deemed reliable but not guaranteed.
Copyright 2008. Lisa Heindel, All rights reserved.
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